setting up a business

i have always wanted to work for myself, but lacked the confidence to 'go it alone'

have the money, have great ideas/concepts but

just a 'coward' i guess

anyone done it and would you advise me to go for it?

 

It has always been something I've wanted to do as well. I have done all the research and got all the relevant information but I can't seem to take the final step and start it up. I have a terrible fear of failure

 

No I wouldn't, for three reasons

(a) despite you saying you have the money there's the fact that banks are not lending money right now which leads to
(b) is your planned business in an area which will always be in demand and not subject to the public tightening their belts
(c) I work for a company that takes adverts from liquidators/the taxman and we are being swamped with adverts about companies being wound up/sued for unpaid tax and people being made bankrupt

 

same here, especially as i have a young family, disabled kid

weird thing is i was a good salesman but wanted a steady income, work in public sector and even though money is less (still a decent wage) it has flexibility time off when needed (due to little un) etc

have a couple of houses/cars, money in the bank

maybe thats why there is fear

 

Do it.

The best piece of advice I have ever received was from a self made millionaire. He said that when doing business he regrets the chances he never took more than the ones he did but lost money on. At the end of the day things can be replaced but the thrill of success is hard to beat.

 

thing is i have a good and diverse work ethic. whatever i have done i have put effort into
and have a lot of strings to my bow.
just seems a shame to put in the effort with little reward

with my own place it would be what i made it, and i want to think big

 

I was thinking that it would be a good idea to start a business on a part time basis to see how it would go and once I built a good reputation go full time. It would be a lot of hard work but I could also work and have that to cushion the blow if I did happen to fail.

 

yes , I`ve done it and yes , I`d say go for it...so long as the idea is sound and you are the kind of person who is unlikely to kill yourself or others due to stress. ...have you thought about dragons den

 

You should be asking edge. He has a sucessful business with a signifigant tax bill.

 

Best of luck to you mate, if you go for it.

I've read a few of your posts and I like the cut of your jib, so to speak.

You come across like a good guy, and I reckon you would make a success of whatever you turn your hand to.

 

I was in a similar position in the 80's I had a great product and worked in that industry and was well known for my work. I started my own business but did my work after hours in a studio i built in my attic. Although very tiring I managed to get to the point where my business improved to the where I was earning more in 4-6 hours a day than I was doing 40 at work. This is called 'Toe Dipping' and if you can do it, this is a good pointer whether your business will bode well for you in the future.

Hope this helped
Good Luck

 

depends on the business i suppose, i wouldnt be able to do justice to what i want to do part time

 

What's that? Human trafficking, drug smuggling or weapons dealing?

 

The best business to get into, is one of the oldest and that's being a pimp

 

I have 3 companies and started my first at 20. I too had a mortgage and a little one on the way but just decided to take the gamble and go for it. Been self employed 27 years now and enjoy being my own boss.
It's not easy and you work long hours. No switching off at 5pm either and sometimes your weekends are gone too.
When you back is against the wall ou can't imagine how hard you come out fighting. I've been through 3 recessions, this one being the worst!
With the internet today it has made lots of bedroom millionaires so you have to make sure what you want to do is viable.
Also another huge tip. Start your business off whilst you are still in employment and then if it looks to be taking off quite your regular job for that.
If you are in Hanley as you said you were PM me with your ideas!

 

I think mine would suit part time to begin with. My idea is an IT Support business, start with PC repair and then diversify

 

We put ****loads of pistols into Shirley Bassey's and hid them in the diesel tanks of our tanks (again) after OP Granby. Got a few through...nah we didn't. ****ing RMP sussed them out